12 Months Financial Report - Turkish Airlines

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(Convenience Translation of Report And Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞICONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 2009(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)AuditedAudited(Restated Note 41)Notes 31 December 2009 31 December 2008Sales revenue 28 7.035.882.903 6.123.174.209Cost of sales (-) 28 ( 5.135.949.144) ( 4.542.670.584)GROSS PROFIT / (LOSS) 1.899.933.759 1.580.503.625Marketing, sales and distribution expenses (-) 29,30 ( 806.503.413) ( 635.876.008)Administrative expenses (-) 29,30 ( 261.536.526) ( 203.813.181)Other operating income 31 91.136.104 56.690.528Other operating expenses (-) 31 ( 199.139.482) ( 210.120.463)OPERATING PROFIT / (LOSS) 723.890.442 587.384.501Share of investments' profit/ (loss) accounted forusing the equity method 16 12.813.703 3.572.374Financial income 32 172.982.144 1.427.882.203Financial expenses (-) 33 ( 172.708.672) ( 713.373.140)PROFIT / (LOSS) BEFORE TAX 736.977.617 1.305.465.938Tax (expense) / income ( 177.901.337) ( 171.239.727)Current tax expense (-) 35 ( 104.523.367) ( 7.673.685)Deferred tax (expense) / income 35 ( 73.377.970) ( 163.566.042)PROFIT / (LOSS) FOR THE YEAR 559.076.280 1.134.226.211OTHER COMPREHENSIVE INCOME / (EXPENSE)Differences from currency translation 181.933 4.459.406Cash flow hedge fund ( 2.189.161) -Tax income on items in other comprehensive income 437.832 -OTHER COMPREHENSIVE INCOME/(EXPENSE) (AFTER TAX)( 1.569.396) 4.459.406TOTAL COMPREHENSIVE INCOME/(EXPENSE) FOR THE YEAR 557.506.884 1.138.685.617Earnings/(Loss) per share (Kr) 36 0,64 1,30The accompanying notes form an integral part of these consolidated financial statements.3
(Convenience Translation of Report And Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞICONSOLIDATED STATEMENT OF CHANGE IN SHAREHOLDERS’ EQUITYFOR THE YEAR ENDED 31 DECEMBER 2009(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)Issued capitalInflation Differenceon Shareholders'Equity Share premiumRestricted ProfitReservesDifferences fromcurrencytranslationCash flow hedgefundNet profit / lossfor the period Retained earningsTotal shareholders'equityAs of 31 December 2007 175.000.000 1.739.005.871 895.492 61.014.406 - - 265.496.774 (393.511.064) 1.847.901.479Transfer of previous years' profit to retained earnings - - - - - - (265.496.774) 265.496.774 -Ofset of differences in shareholder's equity and inflation differencewith retained earnings - (66.104.392) (895.492) (61.014.406) - - - 128.014.290 -Total comprehensive income for the year - - - - 4.459.406 - 1.134.226.211 - 1.138.685.617As of 31 December 2008 175.000.000 1.672.901.479 - - 4.459.406 - 1.134.226.211 - 2.986.587.096Transfer of previous years' profit to retained earnings - - - - - - (1.134.226.211) 1.134.226.211 -Transfer of previous years' profit to reserves - - - 22.686.727 - - - (22.686.727) -Dividends paid - - - - - - - (99.213.754) (99.213.754)Capital increase 700.000.000 (549.093.447) - - - - - (150.906.553) -Total comprehensive income for the year - - - - 181.933 (1.751.329) 559.076.280 - 557.506.884As of 31 December 2009 875.000.000 1.123.808.032 - 22.686.727 4.641.339 (1.751.329) 559.076.280 861.419.177 3.444.880.226The accompanying notes form an integral part of these consolidated financial statements.4
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12 Months Financial Report - Turkish Airlines

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